Question:   How long do I have to roll over a retirement distribution?

Answer:   

• You must complete the rollover by the 60th day following the day on which you receive the distribution. (This 60-day period is extended for the period during which the distribution is in a frozen deposit in a financial institution).
• A written explanation of rollover must be given to you by the plan making the distribution.
• The IRS may waive the 60 day requirement where failure to do so would be against equity or good conscience, such as in the event of a casualty, disaster, or other event beyond your reasonable control.
• To obtain the waiver in most cases, a request for a letter ruling must be made which include the applicable user fee. Refer to the first Internal Revenue Bulletin of each year to get the Internal Revenue Procedure for requesting a letter ruling.